Horizon Technology Finance Co. (NASDAQ:HRZN) Declares $0.11 Monthly Dividend

Horizon Technology Finance Co. (NASDAQ:HRZN - Get Free Report) declared a monthly dividend on Friday, March 7th, Wall Street Journal reports. Shareholders of record on Friday, May 16th will be given a dividend of 0.11 per share by the investment management company on Friday, June 13th. This represents a $1.32 dividend on an annualized basis and a yield of 14.24%. The ex-dividend date is Friday, May 16th.

Horizon Technology Finance has increased its dividend by an average of 3.2% per year over the last three years. Horizon Technology Finance has a dividend payout ratio of 111.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Horizon Technology Finance to earn $1.26 per share next year, which means the company may not be able to cover its $1.32 annual dividend with an expected future payout ratio of 104.8%.

Horizon Technology Finance Trading Up 5.2 %

Shares of NASDAQ:HRZN traded up $0.46 during trading on Friday, reaching $9.27. The stock had a trading volume of 580,693 shares, compared to its average volume of 341,952. Horizon Technology Finance has a one year low of $8.46 and a one year high of $12.63. The company has a market capitalization of $373.72 million, a P/E ratio of -77.25 and a beta of 1.18. The firm's 50-day simple moving average is $9.39 and its 200 day simple moving average is $9.80.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.06). Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. The firm had revenue of $23.55 million during the quarter, compared to the consensus estimate of $25.69 million. Equities research analysts forecast that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

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Insider Buying and Selling at Horizon Technology Finance

In other Horizon Technology Finance news, Director Michael Balkin acquired 20,000 shares of the firm's stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of $8.53 per share, for a total transaction of $170,600.00. Following the purchase, the director now owns 20,000 shares in the company, valued at approximately $170,600. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.34% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on HRZN shares. Keefe, Bruyette & Woods lowered their price target on shares of Horizon Technology Finance from $9.00 to $8.00 and set an "underperform" rating on the stock in a report on Friday. StockNews.com cut shares of Horizon Technology Finance from a "hold" rating to a "sell" rating in a research note on Thursday, February 20th. Finally, Compass Point upgraded shares of Horizon Technology Finance from a "sell" rating to a "neutral" rating and set a $8.25 target price for the company in a research note on Tuesday, December 17th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $8.94.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, cleantech and sustainability industries.